Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Africa Finance Corporation(AFC)Hosts Inaugural Summit to Address the Scale of Africas Infrastructure Requirements and Investment Deficit   Join our daily free Newsletter

MENAFN Press - 11/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) The Africa Finance Corporation (AFC) (http://www.africafc.org), an African-led multilateral development financial institution whose mission is to improve African economies by proactively developing and financing infrastructure assets announces details of its inaugural Summit.



Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/afc.jpg



The Summit, titled: 'AFC Live: Bridging the Infrastructure Divide' responds to the need to open a dialogue to address the scale of Africa's infrastructure requirements and its investment deficit, which is conservatively estimated at over US40 billion per annum over the next ten years (1). The Summit takes place on 25 March 2014 at the Eko Hotel & Suites, Lagos, Nigeria.



The Summit will bring together African politicians, business leaders and academics for a series of lively panel discussions. Confirmed speakers include: Jim O'Neill, the economist and former Chairman of Goldman Sachs Asset Management, best known for coining the 'BRIC' and 'MINT' acronyms, as well as:



Dr. Ngozi Okonjo-Iweala, Coordinating Minister of Finance and Economy, Nigeria;

Prof. Chinedu Nebo, Minister of Power, Nigeria;

Hon. Patrick Achi, Minister of Economic Infrastructure, Cte d'Ivoire;

Hon. Cristina Duarte, Minister of Finance, Cape Verde;

Mr Jim Yong Cai, Executive Vice President and CEO, International Finance Corporation;

Mr Tony Elumelu, Chairman Heirs Holdings;

Ms. Diana Layfield, CEO Africa, Standard Chartered Bank

Dr. Nkosana Moyo, Mandela Institute for Development Studies; and

Ms. Funke Opeke, CEO Main One



The Summit is the must attend event for audiences interested in Africa's infrastructure challenges. It will discuss issues such as Africa's need to take the lead in bridging the investment divide whilst also accessing international capital as part of a joined up and holistic approach.



Commenting on the upcoming Summit, Bayo Ogunlesi, Chairman of AFC, said:



"The summit is a key opportunity to for a broad range of stakeholders, from national governments to the indigenous and international private sector and donor partners, to contribute to the development of constructive solutions to the deficit in infrastructure investment in Africa which continues to hold back economic growth on the continent."



"The Africa Finance Corporation is committed to serving as a catalyst for growth in infrastructure development in Africa, by focusing on investments in the sectors that are critical to economic growth on the continent and attracting new investment partners and country members."



Commenting on the Summit, economist Jim O'Neill, said:



"I am delighted to be participating in the AFC's inaugural summit which promises to address an important agenda. If Africa is to reach its potential as the home to some of the fastest-growing economies in the world, then infrastructure will play a vital role in making that happen. This conference provides an excellent opportunity to gather some of the most important figures in the region in order to discuss how this can be achieved. The AFC plays not just a vital role in brokering these discussions but also in financing and advising some of most transformative infrastructure projects on the continent."



Key sessions at the Summit will include:



'Building the New Africa “ action plan for the next decade'

Panel 1: power sector

Panel 2: transport sector

Panel 3: natural resources



(1) The World Bank estimates Africa's infrastructure deficit at US38 billion of investment per year, with a further US37 billion per year required in operations and maintenance. This represents c.12% of Africa's current GDP.



Distributed by APO (African Press Organization) on behalf of the Africa Finance Corporation (AFC).



For programme details and to register email: afc@bell-pottinger.com




About the AFC:
AFC (http://www.africafc.org) is an African-led multilateral development financial institution, established in 2007, whose mission is to improve African economies by proactively developing and financing infrastructure, industrial and financial assets. AFC is involved as an investor, developer and financier of various infrastructure projects, and is gaining recognition as the benchmark institution for financing the development of infrastructure projects in Africa. AFC's current authorized share capital is USD2.0 billion with shareholders' funds of USD1.24 billion and a 2013 funding programme of USD700 million. AFC is the second highest investment grade-rated multilateral financial institution on the African continent, with an A3 (long term) /P2 (short term) foreign currency debt rating by Moody's Investors Service. AFC's projects: AFC is the lead investor in the award winning Cabeolica project, a USD90 million, 26MW landmark renewable energy wind power project in Cape Verde. AFC is the Technical Adviser to the Central Bank of Nigeria (CBN) on the CBN's USD2.0 billion Power and Aviation Intervention Fund (PAIF). AFC is a partner with Vigeo Holdings Limited and Tata Power Delhi Distribution Limited for the acquisition of power distribution assets, and a lead financier in the acquisitions of the Kainji and Ughelli power generation plants in the current Nigerian Government power sector privatisation round. Additionally in Nigeria, AFC made investments to support marginal field operators in the up and mid-stream oil and gas sector companies such as Neconde, FHN and Seven Energy. AFC is also the lead investor in Cenpower Generation Company Limited (Cenpower), which is implementing the Kpone IPP project “ a 340 megawatt combined cycle gas turbine power plant in Tema, Ghana. AFC is the lead investor in the Main One fibre optic cable project, enhancing West Africa's connection to Europe and the rest of the world through faster and more technologically advanced broadband capacity. AFC provided a USD50 million convertible debt investment in ARM Cement Limited (ARM), the second largest cement operator in Kenya to support expansion initiatives across Eastern and Southern Africa including; development and construction of a lime plant in Tanzania and expansion of ARM's cement capacity in Kenya. The transaction marked AFC's first bilateral investment in Kenya. AFC provided financing for Ethiopian airlines fleet expansion in the acquisition of Africa's first Boeing 777 airline. AFC also invested in the Bakwena toll road project in South Africa, and in the EURO 270 million Konan Bedie Toll Bridge in Cte d'Ivoire; the signature Transport PPP project in Francophone Africa, underscoring its interest in investing in PPPs/PFIs in its focal sectors across the African continent. AFC launched a landmark USD15 million project development facility with the Dutch Development Bank FMO in January 2013, to fund early-stage equity investments in projects under development pre-financial close, in the infrastructure sector across sub-Saharan Africa. The AFC has established partnerships with national, regional and international organizations and with sponsors that are active in the infrastructure space in Africa.

 






  MENA News Headlines
 Aug 28 2014 - HE Deputy Prime Minister to Participate in Alliance of Civilization ForumQatar News Agency
HE Deputy Prime Minister Ahmed bin Abdullah Al Mahmoud left Doha on Thursday to go to Indonesia, in order to participate in the Sixth Global Forum of the United Nations Alliance of Civilizations ...

 Aug 28 2014 - KPC signs 2bn worth oil supply deal with PetronArab Times
(MENAFN - Arab Times)  MANILA Aug 27 (KUNA): The state-owned Kuwait Petroleum Corporation (KPC) signed Wednesday a USD 2 billion-worth crude oil supply contract with Petron Singapore Trading ...

 Aug 28 2014 - Omani Al Hassan Engineering wins USD68m contract in SoharMENAFN
(MENAFN) Al Hassan Engineering Company, one of Oman's leading engineering and construction contractor, won a contract from Dealim-Petrofac Srip to develop a project in Sohar, Times of Oman ...

 Aug 28 2014 - Emirates Sky Cargo launches operations to LAMENAFN
(MENAFN) Emirates Sky Cargo, Emirates' freight division, announced adding Los Angeles to its network, thus joining Chicago, Atlanta and Houston in Emirates Sky Cargo's US freighter network with the ...

 Aug 28 2014 - Dubai's DP World net profit up 26 percent in H1MENAFN
(MENAFN) DP World, one of the world's largest port operators, registered an increase of 26 percent in net profit in the January-June period, Gulf Business reported.The company posted a net profit of ...

 Aug 28 2014 - Kuwait- KPC signs 2bn worth oil supply deal with PetronArab Times
(MENAFN - Arab Times)  MANILA Aug 27 (KUNA): The state-owned Kuwait Petroleum Corporation (KPC) signed Wednesday a USD 2 billion-worth crude oil supply contract with Petron Singapore Trading ...

 Aug 28 2014 - Saudi- Prince Alwaleed gives cash incentive for Hilal playersArab News
(MENAFN - Arab News) Prince Alwaleed bin Talal chairman of Kingdom Holding Company (KHC) awarded each player of Al Hilal SR20000 after the Riyadh-based football club qualified for the semifinals of ...

 Aug 28 2014 - Aid convoys trundle into Gaza as cease-fire holdsArab News
(MENAFN - Arab News) GAZA CITY Palestinian Territories: Life in Gaza resumed some semblance of normality Wednesday as a long-term truce took hold following a deal hailed by Israel and Hamas as ...

 Aug 28 2014 - Israel Hamas declare victory in Gaza warArab News
(MENAFN - Arab News) JERUSALEM: Both Israel's prime minister and Hamas declared victory Wednesday in the Gaza war though their competing claims left questions over future terms of their uneasy peace ...

 Aug 28 2014 - Saudi- SAMA net foreign assets rise to SR2.747 trillionArab News
(MENAFN - Arab News) JEDDAH: Saudi Arabia's M3 money supply growth accelerated to a three-month high of 13.2 percent year-on-year in July from 12.3 percent in the previous month central bank data ...

more...


 






Google

menafn.com

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help